Adaptation and central banking

Alexander W. Salter; William J. Luther

doi:10.1007/s11127-018-00633-9

Adaptation and central banking

Alexander W. Salter, William J. Luther

Business Administration

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8 Scopus citations

Abstract

What or who governs central bank decisions? Most considerations focus on motivations. Instead, we consider the extent to which specific behaviors have adaptive value in the context of central banking. From that perspective, poor decisions are not the product of poor motivations. They are, instead, a product of the poor institutions within which central bank decision makers operate.

Original language	English
Pages (from-to)	243-256
Number of pages	14
Journal	Public Choice
Volume	180
Issue number	3-4
DOIs	https://doi.org/10.1007/s11127-018-00633-9
State	Published - Sep 1 2019

Keywords

Adaptation
Bailout
Central bank
Motivation
Research
Seigniorage
Selection

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10.1007/s11127-018-00633-9

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title = "Adaptation and central banking",

abstract = "What or who governs central bank decisions? Most considerations focus on motivations. Instead, we consider the extent to which specific behaviors have adaptive value in the context of central banking. From that perspective, poor decisions are not the product of poor motivations. They are, instead, a product of the poor institutions within which central bank decision makers operate.",

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Adaptation and central banking

Abstract

Keywords

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